British machine tool giant 600 Group is
about to strengthen its sales aid programme with Close Asset
Finance, as part of series of changes that have seen the group
restructure itself to meet the unique challenges of a depressed
manufacturing climate.
Zero percent finance offers might be
the next item on the menu for 600, which currently offers a variety
of finance packages through a joint venture with Close called 600
Finance.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Finance is sold through distribution
arm 600 Centre and is available on products including
Colchester-Harrison lathes, Electrox laser marking systems,
workholding systems from Pratt Burnerd International and Crawford
Collets, and Gamet bearings.
According to 600, the group’s finance
packages are designed to have a “neutral impact on cash flow”,
meaning that customer’s outgoings are not necessarily increased by
acquiring new equipment.
Typically, to achieve this, packages
will be created for new machines or equipment, but will include
within their repayments amortisation for any other finance
arrangements which are in place. The aim is to ensure that
outgoings are not increased, while customers gain additional
capacity and earning capability from new machines.
In some circumstances, says 600, cash
injections for customers can be achieved by restructuring existing
finance arrangements.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataA spokesperson for 600 Group said that
it had remained competitive in finance since “Close Brothers has
traditionally taken a more conservative approach to finance,
avoiding overly leveraging customers, and is now in a position to
over-ride the difficulties faced by other credit companies”.
• With lines of business
in machine tool and laser marking technology manufacture, 600 Group
has offices in 20 locations worldwide and markets to around 180
countries. Over 150 years old, 600 is the largest
machine tool PLC quoted on the London stock market, as well as the
largest machine tool maker in the UK. As well as
being a major producer of industrial lasers, 600 also claims to be
the first UK company to produce CNC lathes.
